2002 Regular Session

SENATE BILL 598

File Code: Insurance - Other than Health Crossfiled with: HOUSE BILL 812
Sponsored By:
Senator Astle
Entitled:
Motor Clubs - Required Security - Letters of Credit

Synopsis:

Authorizing an applicant for a license to provide motor club service, in addition to other types of security, to deposit a specified letter of credit in a specified amount as the security required for the license; providing for the conditions of, liability under, and cancellation of the letters of credit; authorizing the Insurance Commissioner to adopt regulations relating to letters of credit; authorizing a licensed motor club to substitute one type of required security for another, subject to approval by the Commissioner; etc.

History by Legislative Date

Senate Action
2/1
First Reading Finance
2/6
Hearing 3/7 at 1:00 p.m.
3/12
Favorable Report by Finance
3/13
Favorable Report Adopted
Second Reading Passed
3/15
Third Reading Passed (42-0)
4/1
Senate Concur - House Amendments
Third Reading Passed (46-0)
Passed Enrolled
5/15
Governor vetoed - Cross-filed bill was signed
House Action
3/15
First Reading Economic Matters
3/20
Hearing 3/28 at 1:00 p.m.
4/1
Favorable with Amendments Report by Economic Matters
3/29
Favorable with Amendments Report Adopted
Second Reading Passed with Amendments
3/30
Third Reading Passed with Amendments (140-0)
Bill indexed under the following Subjects:
CREDIT
INSURANCE ADMINISTRATION
LIABILITY -see also- GOOD SAMARITAN
LICENSES -see also- ALCOHOLIC BEV LIC; DRIVERS' LICENSES
MOTOR VEHICLES -see also- ABANDONED; AMBULANCES; BUSES; etc.
RULES AND REGULATIONS
SECURITY INTERESTS -see also- LIENS; MECHANICS' LIENS
Bill affects the following Statute:
Insurance
( 26-204 )

Documents:

Bill Text: First Reading (PDF), Third Reading (PDF), Enrolled (PDF)
Fiscal Note: Available (PDF)
Amendments:
House
Number: 793590/1 (PDF)     Offered on: April 1, 2002   at: 12:16 p.m.     Status: Adopted
Roll Call Votes (Legislative dates are shown):
Senate
March 15, 2002: Third Reading Passed (42-0)
April 1, 2002: Third Reading Passed (46-0)
House
March 30, 2002: Third Reading Passed (140-0)